http://www.huffingtonpost.com/ivan-eland/let-greece-leave-the-euro_b_7697854.html

Ivan Eland Senior Fellow and Director of the Center on Peace & Liberty, The Independent Institute

Let Greece Leave the Eurozone

Posted: 06/30/2015

In withdrawing from negotiations with Greece's international creditors and holding a referendum on whether Greece should adopt the further austerity required by the lenders' financial aid package, Greek Prime Minister Alexis Tsipras figuratively pulled out a gun and threatened to blow a hole in the life raft that was given to his country in an attempt to get a nicer boat. The referendum may save his left-wing Syriza party but may cause Greece to default on its loans and exit the common Euro currency.
Greece has long been irresponsible financially -- originally having excessive pensions, early retirement ages, an over-regulated and corrupt economy, 20 percent of the workforce in the employ of a bloated government, and uneven tax collection. Although some progress on these categories was required by the international creditors to grant the two financial bailouts Greece has already received, more austerity and reform are needed to clear the still abundant deadwood out of the Greek economy so that it can resume normal economic growth. http://www.huffingtonpost.com/ivan-eland/let-greece-leave-the-euro_b_7697854.html